Optimism has resurfaced among Colorado business leaders going into the first quarter of 2012 after a dip last quarter, according to the most recent quarterly Leeds Business Confidence Index released today by the the University of Colorado Boulder’s Leeds School of Business.

According to Richard Wobbekind, executive director of the school’s business research division, the confidence index was 54.7, up from 47.3 last quarter.

Business leaders are optimistic about industry sales and profits, capital expenditures and hiring plans, and national and state economic growth.

An index rating of 50 is neutral. A reading greater than 50 indicates positive expectations, while one lower than 50 indicates negative expectations.

The Index showed that overall Colorado business leaders believe the state’s economy is in better shape than the national economy. But more important, said Wobbekind, their optimism for the national economy also increased.

The first quarter index measuring the prospects for the state economy rose nearly 10 points from 49.0 to 58.4 in the fourth quarter, while the national index rose more than 10 points from 40.4 to 51.0.

“The first quarter index is much more positive than the fourth quarter index of 2011, and that’s obviously a good thing,” said Wobbekind. “It portends high levels of activity in all of the categories, including most importantly sales and profits and capital expenditures and hiring plans.

“There is quite a bit of optimism being exhibited in this survey,” said Wobbekind.

Hiring and capital expenditures had readings of 52.7 and 52.8 respectively, up from 46.8 and 46.7 last quarter.

Thirty percent of respondents said they planned to hire in the coming quarter, and other 45 percent said they planned to hold steady.

“You put these numbers together and that means 75 percent of businesses are either planning to hire or remain stable – they aren’t letting employees go,” Wobbekind said.

He noted that since last quarter, many economic indicators have begun to suggest that the U.S. economy is in a slow, sustained recovery.

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